ACC 122 I. On July 1st, Gillian Gardener began Gillian's Gardening Services (GGS) and had the following
Question:
ACC 122 I. On July 1st, Gillian Gardener began Gillian's Gardening Services (GGS) and had the following transactions: 7-1: Gillian Gardener contributed $200,000 in cash to GGS. 7-1: GGS signed a lease and paid rent for July and August, $20,000 in cash. 7-2: GGS purchased supplies on account from Home Depot for $10,000 7-3: GGS provided Tara Taylor with gardening services and billed her $300,000. 7-4: Gillian Gardener withdrew $20,000 cash from GGS. 7-5: GGS paid salaries expense in cash of $50,000 7-6: GGS paid the Home Depot Accounts Payable in cash, $10,000. 7-7: GGS paid utility expense in cash, $10,000. 7-8: Tara Taylor paid her accounts receivable in cash $300,000. 7-9: GGS provided Bella Barnes gardening services and received $100,000 cash. 7-10: GGS received cash of $60,000 from Lincoln Lancaster for Gardening services to be provided in the future. Record the transactions in the Journal, Post them to the ledger and make trial balance.